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ICC’s new rev share model will leave BCCI with $293 mn between 2016-23
MUMBAI: Not yielding to the Board of Control for Cricket in India’s (BCCI) pressure, the International Cricket Council (ICC) has decided to go in for an equitable distribution of revenue. The revamped financial structure, proposed by the ICC, will mean that the BCCI will receive $293 million as its share of revenue across the eight-year cycle between 2016-23.
Based on current forecasted revenues and costs, the England and Wales (ECB) cricket board will receive $143 million as its share of ICC revenue while Zimbabwe Cricket will end up with $94 million.
The remaining seven full members will get $132 million each. Associate members will receive funding of $280 million.
The financial model, which was passed with 13 votes with BCCI being the lone dissenting voice, puts an end to the ‘B Three’ financial model mooted by the ICC under N Srinivasan.
Under the ‘Big Three’ model, the BCCI, ECB and Cricket Australia stood to earn $440 million, $150 million and $115 million respectively. The BCCI is the biggest loser in the new revenue share model while ECB gets slightly less than what it was expected to receive. Cricket Australia will have a small gain in the new model.
The ICC concluded five days of board and committee meetings in Dubai with a number of decisions passed, including a revised financial model. In addition, agreement on a new constitution to be put before the ICC Full Council was also reached.
The ICC under Shashank Manohar had decided in February 2017 to reverse the 2014 resolutions. Following that a revised financial model was presented to the board and passed. The new model is based on the recommendation of a working group.
The guiding principles for the new model are equity, good conscience, common sense and simplicity, enabling every member to grow.
The ICC also said that a revised constitution was approved by 12 votes to two. This takes into account the board’s feedback following extensive discussion at the February meeting and further input from the working group. It will now be presented to the ICC Full Council in June for adoption. The constitution reflects good governance, expands on and clarifies the roles and objectives of the ICC to provide leadership in international cricket.
Further constitutional changes proposed include:
- The potential to include additional Full Members in the future subject to meeting membership criteria
- Removal of the affiliate level of membership to only two categories – Full Member and Associate Member
- The introduction of an independent female director
- The introduction of membership criteria and a membership committee established to consider membership applications
- The introduction of a deputy chairman of the board who will be a sitting director elected by the board to stand in for the chairman in the event that he or she is unable to fulfil their duties
- Equal weight of votes for all board members regardless of membership status
- All members to be entitled to attend the AGM
Under the revised version that will be presented to the Annual Conference and in an effort to support existing Full Members, the potential for reclassification of Full Membership was removed. The board acknowledged the need to sustain and grow the number of members competing at the top level.
ICC chairman Shashank Manohar said: “This is another step forward for world cricket and I look forward to concluding the work at the Annual Conference. I am confident we can provide a strong foundation for the sport to grow and improve globally in the future through the adoption of the revised financial model and governance structure.”
Other decisions of note also include:
- Work on bringing more context to international bilateral cricket is ongoing with the matter discussed at the chief executives’ committee and in an additional workshop. The ICC board noted the collective will to resolve the current calendar congestion in order to bring a clear framework to all three formats.
- The ICC board has considered an update following the ICC delegation to the PSL final in Lahore as part of its commitment to support the return of international bilateral cricket to Pakistan as long as it is safe for players, officials, media and fans.
- The feasibility of further matches in Pakistan involving a World XI is now being considered from a security and budget perspective.
- The eight top ranked ODI teams competing in the second edition of the Women’s Championship commencing later this year, will be required to play a fixed set of three ODI fixtures against each of the other teams. The Women’s Committee has also recommended that any additional matches played (up to five) should be T20s in recognition of the role the format can play in the growth of the game.
- It was agreed that a separate rankings system for Women’s ODI and T20 cricket be developed with the latter being fully inclusive of all international teams playing that format.
- It was agreed that DRS can be used in women’s televised bilateral ODIs if host member boards choose to do so.
- The principles behind a revised ICC World T20 2020 global qualification structure were endorsed by the Development Committee and ICC management will now develop a more detailed proposal for consideration at the ICC board in June.
- Following consideration of a report on ICC activities in China, the board agreed to the development of a detailed China growth strategy for consideration by the ICC board in June in consultation with the Asian Cricket Council and Hong Kong Cricket Association.
- The ICC board also agreed to a recommendation from the Development Committee to pay the outstanding salaries to national contracted players whilst the Cricket Association of Nepal is suspended and undergoing constitutional reform and reinstatement process.
- The ICC board, on the recommendation of the Audit Committee and Financial and Commercial Affairs Committee, approved the unqualified audited financial statements for the year ending 31 December 2016.
- The board approved a new Code of Ethics in line with global best practice to join together most effective practices from sport and other industry.
- Noting the BCCI’s commitment to reconsidering the matter in the near future, the chief executives’ committee reconfirmed its support for cricket’s inclusion in the Olympics.
ICC chief executive David Richardson said: “It has been a very productive week. Progress has been made on a number of significant issues, in particular around international cricket structures. Efforts to find a solution, enhancing the context of international bilateral cricket and retaining the relevance of the international game, will continue.”